Thursday, June 13, 2013

Steven Spielberg Predicts 'Implosion' of Film Industry

Steven Spielberg on Wednesday predicted an "implosion" in the film industry is inevitable, whereby a half dozen or so $250 million movies flop at the box office and alter the industry forever. What comes next -- or even before then -- will be price variances at movie theaters, where "you're gonna have to pay $25 for the next Iron Man, you're probably only going to have to pay $7 to see Lincoln." He also said that Lincoln came "this close" to being an HBO movie instead of a theatrical release.

George Lucas agreed that massive changes are afoot, including film exhibition morphing somewhat into a Broadway play model, whereby fewer movies are released, they stay in theaters for a year and ticket prices are much higher. His prediction prompted Spielberg to recall that his 1982 film E.T. the Extra-Terrestrial stayed in theaters for a year and four months. Read more >>